The sensitive index (Sensex) of the Bombay Stock Exchange (BSE) gained more than 115 points or 0.40 percent in the day’s trade. The Nifty of National Stock Exchange (NSE) also edged higher by 37.25 points to 8,522.15.
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While global markets sank on Monday after voters in Greece rejected austerity plans demanded by worldwide creditors, casting doubt on the country’s future in the euro zone, the 30-share Sensex of the BSE started off sharply lower at 27,857.2 and moved between 27,774.8 and 28,235.31 before ending at 28,208.76, a gain of 115.97 points, or 0.41 per cent.
The Sensex touched a high of 27814.53 points and a low of 27570.95 points in the intra-day trade.
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“The complete clarity on the issue is still not out yet”. Market Expert Sunil Shah attributed the fall in stock markets to the Greek crisis.
Chokkalingam said he expects to see only a marginal improvement in corporate earnings for the quarter ended June.
MUMBAI: Shares of Indian companies with exposure to Europe fell today following Greeks’ rejection of rescue package from creditors. “Factors like lower inflation, easing of monetary policy and stable rupee are expected to be translated into better Q1 numbers”, James added. The index gyraged 460 points during the session before rebounding in late trades to end in positive territory.
During Monday’s intra-day trade, healthy buying took place in healthcare, oil and gas, bank, capital goods and automobile sectors.
However, consumer durables, metal, automobile, banks, capital goods and information technology (IT) sectors came under intense selling pressure.
The S&P BSE consumer durables index plunged by 100.17 points, followed by metal index, which receded by 56.83 points and TECK index which by declined by 1.22 points. Japan’s Nikkei index is up 1.4 percent, Australia’s All Ordinaries index is rallying 1.7 percent ahead of rate decision, Hong Kong’s Hang Seng index is moving up 0.1 percent and New Zealand’s NZX-50 index is gaining half a percent.
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Among the gainers aiding the broad market recovery, Dr Reddy’s jumped 3.6 percent to Rs 3,711.75, Cipla rose 3.3 percent to Rs 652.55, HeroMoto Corp gained 1.3 percent to Rs 2,612.40 and TCS was up 1.1 percent at Rs 2,632.80.
